Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

Revolution Capital Management's Alpha Program is a fully-diversified, short- to medium-term program that utilizes a multi-strategy pattern-recognition methodology. It targets a low long-term correlation to trend-following indices. Annual volatility is targeted to 12% based on daily returns. The Alpha Program balances its exposure fairly evenly across all market sectors, including grains, softs, and meats. Approximately 70% of Alpha's total risk allocation goes to stock indices, currencies, and fixed income, while the remainder is distributed across the various commodities (energies, metals, and agricultural products).

Performance Statistics

Date Range: 05/07 - 04/19

Program

S&P 500

Altegris 40

Total Return

87.07%

156.64%

30.89%

Annualized Return

5.40%

8.17%

2.27%

Annualized Std. Deviation

10.87%

14.77%

8.95%

Correlation

0.02

0.45

Sharpe Ratio (rf=2.5%)

0.27

0.38

-0.03

Worst Month

-15.46%

-16.79%

-6.10%

Date of Worst Month

02/2018

10/2008

02/2018

Worst Drawdown

-20.92%

-50.95%

-15.74%

Date of Worst Drawdown

1/18 - 11/18

10/07 - 2/09

4/11 - 9/13

Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 05/07 - 04/19

Year or YTD

Program

S&P 500

Altegris 40

2019

-1.87

18.24

5.17

2018

-10.53

-4.38

-4.29

2017

-6.14

21.84

1.24

2016

9.74

11.98

-3.13

2015

2.04

1.41

0.09

2014

1.98

13.69

15.75

2013

11.54

32.41

-2.45

2012

16.45

15.98

-4.75

2011

-5.26

2.12

-3.23

2010

23.06

15.06

11.33

2009

-6.79

26.45

-7.98

2008

28.23

-36.99

15.47

2007

9.82

-3.00

3.88

Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 05/07 - 04/19

Note: All performance data is since program inception.

Monthly Returns

Date Range: 05/07 - 04/19

Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 05/07 - 04/19

Note: All performance data is since program inception.

Underwater Curve

Date Range: 05/07 - 04/19

Note: All performance data is since program inception.

Underwater Curve

The advisor began trading customer accounts in June 2007. Therefore, little historical performance is available for the managed account program. Please see the performance record of the advisor's Fund which trades proprietary money of the advisor pursuant to the same strategy, titled "Global Alpha *PROP*".

The performance information shown is a composite of the accounts traded under this program and does not reflect the performance of any single account. The results shown are net of all fees and expenses. Performance results of individual accounts may vary as a result of differing fees, account size, the timing of the entry of orders and other factors.

Manager Information

Manager Name:

Revolution Capital Management, LLC

Address:

1400 16th Street, Suite 510

City:

Denver

State:

CO

Zip:

80202

Country:

USA

Key People

Name:

Michael David Mundt

Position:

Principal

Biography:

Michael’s tasks primarily consist of model development, business/marketing, and coordinating RCM’s overall business and trading strategy.
Michael’s background is in engineering and applied science. He received his Bachelor of Science degree in Aerospace Engineering from the University of Colorado in 1989. He was awarded a Ph.D. in Aerospace Engineering in 1993, also from the University of Colorado; his thesis involved the exploration of chaos and turbulence in simple weather/climate models. After the completion of his academic studies, Michael transitioned into the technology industry. He was employed by Seagate Technology (a hard-disk drive company) as an engineer specializing in computational fluid mechanics between March 1998 and July 2007. He currently holds nineteen U.S. patents in the area of disk-drive head/disk mechanics.
Michael has been registered with the CFTC as an Associated Person and the NFA as an associate member since 12/27/2004 and has been a listed Principal of RCM since 12/27/2004.

Name:

Theodore Robert Olson

Position:

Principal

Biography:

Rob oversees the architecture and development of the hardware and software computing infrastructure at RCM.
Rob received his Bachelor of Science degree in Aerospace Engineering at the University of Arizona in 1989. He received his Master’s and Doctorate degrees in Aerospace Engineering at the University of Colorado in 1992 and 1996, respectively. Rob was employed at Raytheon Technology, an aerospace defense contractor, from June 1996 through June 2006. His primary job duties included code/software development, data analysis, and the development of statistical algorithms to process high-frequency, realtime
data. Rob is familiar with a wide range of computing languages (e.g. Fortran, C, C++, Java), operating systems (e.g. Windows, Linux, Unix, Mac OS X), and application software (e.g. Perl, Matlab, Tcl/Tk).
Rob has been registered with the CFTC as an Associated Person and the NFA as an associate member since 06/19/2008 and has been a listed Principal of RCM since 09/02/2005.

There are substantial risks and conflicts of interests associated with Managed Futures and commodities accounts, and you should only invest risk capital. The success of an investment is dependent
upon the ability of a commodity trading advisor (CTA) to identify profitable investment opportunities and successfully trade. The identification of attractive trading opportunities is difficult, requires skill,
and involves a significant degree of uncertainty. CTAs have total trading authority, and the use of a single CTA could mean a lack of diversification and higher risk. The high degree of leverage often obtainable
in commodity trading can work against you as well as for you, and can lead to large losses as well as gains. Returns generated from a CTA’s trading, if any, may not adequately compensate you
for the business and financial risks you assume. You can lose all or a substantial amount of your investment. If you use notional funding, you may lose more than your initial cash investment. Managed
Futures and commodities accounts may be subject to substantial charges for management and advisory fees. It may be necessary for accounts that are subject to these charges to make substantial
trading profits in order to avoid depletion or exhaustion of their assets. The disclosure document contains a complete description of each fee to be charged to your account by a CTA. CTAs may trade
highly illiquid markets, or on foreign markets, and may not be able to close or offset positions immediately upon request. You may have market exposure even after the CTA has a request for closure or
liquidation. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.